Posted 12/5/2012 20:19 (#2735123 - in reply to #2734097) Subject: appreciation is not taxed and should be.
good post ndcom.
I think inheriting the farm tax free is considered a god-given right by many on this forum.
Prudent estate planning is a must for a farm; really pretty easy to address some issues.
Just because grandpa worked hard does not mean that the grandchildren should expect not to work at all.
What most conveniently choose to ignore is that the appreciation has never been taxed in any manner and should be. that is where the wealth is and that money has been accumulated tax free. the argument is that it was already taxed - no, that is false; appreciation is not taxed.
Another estate issue now developing is that there are less heirs than a few decades ago; more wealth concentration which is a bad thing for our society.
Personally i think the inheritance tax ought to be 100% - level the playing field.
Any farmer who has not addressed estate issues with the family is not managing the farm well. should be addressed long before parents or the farmer gets old and senile and siblings suddenly return with a new will...............
Thoughts on all the talk/complaining about taxes/estate tax on here.
